The Standard Annuity
|The Standard Annuity provides safety, tax deferral and most of all personal choice. The company's website says an annuity is an insurance contract which is created when an individual makes a payment or a series of payments. This is called premium which will grow with interest that is tax deferred. The insurer then guarantees periodic payments back to the individual. The defining characteristic as highlighted on|
/L2dJQSEvUUt3QS9ZQnB3LzZfS1BTN0ZLNzMxMEoyNTAyTjMyRERFRjBLOTE!/, is the option to receive these payments as a guaranteed income until death of the person or persons named in the contract. This is known as death benefit.The Standard Insurance Company annuities can be classified in different ways. There are:
- Single Premium
These are purchased with one, lump-sum premium payment. Some single premium annuities do accept additional premiums during a short specified time period at the beginning of the contract.
- Flexible Premium
This accepts several premium payments during the life of the contract. These premiums generally can be of varying amounts as long as an annual minimum is met. This type of annuity would make possible the sort of retirement savings where small monthly payments are added.
|For more information, you can call on the phone number 800-247-6888 and fax on 800-378-4570.|
The Standard Annuity RatesThe Standard Annuity Rates and payouts may vary. Interested people and customers of the company can ask for quotes and find out how the annuity can grow for them. Quotes can be requested on
http://www3.standard.com/net/public/Individuals/Insurance/Annuities by clicking on Request A Quote. You will have to fill out the relevant details on http://www3.standard.com/net/public/Individuals/RequestaQuote. Overall, annuities can help one achieve a variety of financial goals. They can help save for the future, convert current assets for example retirement savings into a guaranteed, steady source of income. Rates and payouts can vary therefore it is better to request a no-obligation quote. Annuity calculator can be accessed at
http://www.moneychimp.com/calculator/annuity_calculator.htm. This uses a different kind of formula to calculate.
The Standard Annuity Nonforfeiture LawThe Standard Annuity Nonforfeiture Law comes under the division for individual deferred annuities as per
http://www.lrc.ky.gov/krs/304-15/315.PDF. It does not apply to any reinsurance group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employee organization. Apart from this, the standard annuity table can be accessed on http://www.answers.com/topic/standard-annuity-table-1937.The annuity mortgage is not much different from a standard annuity. With a regular annuity, one can contribute funds from their salary into an interest bearing account and use the annuity as a source of income upon retirement. The annuity mortgage is different in that the contribution is usually in one or several large lump payments.
The Standard Annuity Variable Death BenefitThe Standard Annuity Variable Death Benefit falls under the category of variable annuity. Variable annuities enable people to put funds into mutual funds but with insurance guarantees that protect them from some losses caused by down markets. Death benefits can be said to be among the standard guarantees that are part of all variable annuity contracts. All annuity contracts have a standard death benefit that contract owners pay for on an annual basis. The fee typically amounts to one per cent or less of the total account value. The basic death benefit normally equals the amount of the initial premium payout used to fund the account. For example, if the owner dies, the beneficiary receives a lump sum payment. Any withdrawals made by the contract owner plus all contract fees are deducted from the payout amount before the beneficiary receives it. Death benefits are only paid out if the contract owner dies at a time when the contract has lost value.
For more information about the Standard Insurance Co login on